Back

Turkey’s Oldest Crypto Exchange Gets Hacked for $48 Million

sameAuthor avatar

Written & Edited by
Mohammad Shahid

14 August 2025 13:46 UTC
Trusted
  • BtcTurk hacked, ~$48 million in crypto drained from hot wallets across 7 blockchains.
  • Crypto deposits and withdrawals paused; lira transactions and trading unaffected.
  • Most user funds in cold storage; authorities notified, investigation ongoing.
Promo

BtcTurk, Turkey’s longest-running cryptocurrency exchange, has confirmed a security incident involving its hot wallets.

Blockchain security platform Cyvers flagged around $48 million in unusual outflows across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon. Most funds were sent to two addresses before being swapped into other assets.

Sponsored
Sponsored

The exchange said the suspicious activity was detected during routine checks on 14 August 2025. As a precaution, crypto deposits and withdrawals have been suspended while investigations continue.

BtcTurk assured customers that most assets are stored in cold wallets and remain secure. Turkish lira deposits, withdrawals, and trading are operating normally.

Authorities have been notified and security measures implemented. The attacker continues to move and exchange the stolen assets, making recovery efforts urgent.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.